Express

Licenses Now Required For Austrian Cryptocurrency Companies

Roland James

Summary: Austrian cryptocurrency firms must now apply for a license to the nation’s financial watchdog as new Anti-Money Laundering (AML) regulations take effect. To qualify license applicants must provide the Financial Markets Authority (FMA) of Austria with evidence that they possess sufficient capability, coherence, and solvency to run the business. The penalty for operating a cryptoasset-related ...

Austrian cryptocurrency firms must now apply for a license to the nation’s financial watchdog as new Anti-Money Laundering (AML) regulations take effect.

To qualify license applicants must provide the Financial Markets Authority (FMA) of Austria with evidence that they possess sufficient capability, coherence, and solvency to run the business. The penalty for operating a cryptoasset-related business without a license is a maximum fine of €200,000.

By Roland James

Last Update:

Tags: ,,,
Link: Licenses Now Required For Austrian Cryptocurrency Companies   [Copy]
Next:

Related Articles

  • The Making of a Political Darling: Is Chainlink’s Government Deal a Victory for Tech or... 4 days ago
  • Google Steps Into Blockchain: A New Front in the “Ledger Wars” 6 days ago
  • Bitcoin Weekly Analysis: Is a Bear Market on the Horizon? 8 days ago
  • AI Fraud Is Breaking the Internet’s Trust Economy. Can Compliance Tech Keep Up? 11 days ago
  • Can a $300M RWA Fund Save Avalanche's TVL? 12 days ago

    • You need to login to comment.